Monday, 24 March 2008

Filled!

I guess I must have had too relaxing a holiday weekend because I didn't realize until this afternoon that the markets were open today despite Easter. What would Jesus say?! So I had a busy little period this afternoon checking the markets and timing some trades to reflect a veritable avalanche of new signals, including bearish for the Russell 2000, gold and copper and cash for the NASDAQ 100. Ah, the memories of day-trading! Among other things, I was interested to look for breakouts from this morning's opening range based on the 15-minute charts. Lots of action today! I've just updated my portfolio page with my new positioning. In the end, I decided to dump my XGD Canadian iShares Gold Fund, even though my trading setup for that remains in bullish mode, and pick up some leveraged HBD Horizons BetaPro Gold Bullion Bear Plus trading in Toronto. The reason: my gold setup is a little more robust than my XGD/HUI Gold Bugs Index setup, most likely because the former is more directly tied to the Commitments of Traders data that underlies both setups. (There is no COTs data for XGD or HUI, so I used the gold COTs data to find my XGD/HUI setup.) Good luck this week!

6 comments:

decologne said...

Hi

what ETF did you choose to trade the "Copper" signal?

Thanks for your great work!
lothar

Alex Roslin said...

Thanks Lothar. I used Horizons BetaPro Global Mining Bear Plus, trading in Toronto (HMD).

Regards,
Alex

JAL said...

Hello Alex:

I've been reading your blog for a while but stayed on the side. I disagreed with your bearish silver signal a few weeks back, but man I'm glad I was mostly in cash.

Are you using Proshare Financials (UYG) for your long US banks signal? Man getting long on banks these days sends shivers down my spine :o)

BTW: I'm from Trois-Rivieres, not too far away from you.

Thanks for your excellent work.

Alain

Alex Roslin said...

Salut Alain! J'espère que vous aimer toute cette neige!

Yes I used UYG for the banks signal. It's quite short term with an average trade lasting three weeks for that setup, so I don't believe it's anything more than a signal for a quick trade. Working nicely so far!

A la prochaine fois!
Alex

Anonymous said...

Hi Alex,

I think your site is great and I enjoy the fact the that many people disagree with you. Your site has been great for me since I have been trading HGD.to since the beginning of this year, (in/after morning run and out/afternoon profit taking has been working ). I was glad to be in yesterday, but it did emboldened me to stay in through the disaster this morning, even as things got worse all day. Between Seekingalpha.com , kitco.com and your site I have manged get a idea for why gold stocks were breaking down. Today it was the USD breaking down and I must admit I was an ugly surprised how much. I may have to use the HFD.to if the Banks aren't going to seen in recovery anymore. Also to let your readers know that many of the horizon ETFs can be double the pain/gain (many are very low volume as well). Cheers, Brian in Montreal.

Alex Roslin said...

Hi Brian,

Thanks for your kind words! Yes, some of the HB funds and other new funds out there do have low liquidity. Don Vialoux of DVTechTalk.com recommends at least 50,000 average daily volume (three months) to have adequate fills, although this would depend a little on how short- or long-term you're trading.

Regards,
Alex